TSXV:CVI.P - Post by User
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GMJFARon Sep 19, 2011 9:25pm
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RE: Protests in Yemen, new signs president may qui
RE: Protests in Yemen, new signs president may qui Calvalley, which operates about 350 kilometres east of Sanaa, said in a statement Thursday that it has continued operations at all key production locations during the political unrest and is proceeding with facility upgrades that should increase production and blending of crude oil. But Jennings Capital Inc. analyst Gregory Chornoboy, who covers Calvalley, said there is justified nervousness on the markets about Yemen right now."The fact that (Calvalley) have come out and said, 'Look, we're producing, we're not affected,' will offer some comfort to the market, but I don't think that will send shares shooting upwards."Calvalley, which also has working interests in Ethiopia, is undergoing an executive makeover following the resignation of company president Memet Kont, who is facing Alberta Securities Commission allegations of insider trading.